By Sam Bridge
Saudi Aramco has been named the most valuable brand in the Middle East and North Africa in annual Brand Finance study
With a brand value of $46.8 billion, Saudi Aramco has been named the most valuable brand in the Middle East and North Africa.
The publication of the Saudi Arabian oil and gas company’s financials at the time of the IPO allowed for its brand to be included in Brand Finance’s annual study for the first time.
Placing 24th globally, Saudi Aramco's IPO has proven to be successful for the brand as it raised $25.6 billion, making it the largest ever to date.
Even after navigating through recent attacks on two of its oil processing sites, it is now the world’s most valuable listed company, comfortably ahead of tech titans Apple and Microsoft.
The company must now focus on developing international perceptions of the brand in order to open it up further for partnerships and investment, according to latest report by Brand Finance on world’s 500 most valuable brands.
Globally, Amazon defended its position as the world’s most valuable brand for the third consecutive year, breaking through the $200 billion brand value mark.
Following 18 percent growth from $187.9 billion last year, Amazon’s brand value has now reached $220.8 billion, over $60 billion more than Google’s and $80 billion more than Apple’s.
The world’s largest online marketplace, Amazon has also branched out into cloud computing, artificial intelligence, consumer electronics, digital streaming, logistics, and is looking to enter other industries.
Nevertheless, the majority of Amazon’s revenue still comes from retail, and challenges to the growth of the company’s core operations may result in brand value stagnation in the future, the report said.
David Haigh, CEO of Brand Finance, said: “The disrupter of the entire retail ecosystem, the brand that boasts the highest brand value ever, Amazon continues to impress across imperishable consumer truths: value, convenience, and choice. Today, Amazon’s situation seems more than comfortable, but what will the roaring twenties hold in store?”
While Saudi Aramco is the most valuable B2B brand in the region, Emirati telecoms giant, Etisalat remains the most valuable B2C brand in the Middle East and Africa for the third consecutive year.
The brand’s growing role in fulfilling the UAE’s National Innovation Strategy and its dominant influence in shaping the region’s digital future are behind its continued success, the report said.
It added that Etisalat’s footprint in 16 countries across Asia, Middle East, and Africa makes it home to an impressive portfolio of brands including Mobily, Ufone, Maroc Telecom, PTCL, and Etisalat Misr.
As the Middle East’s fastest growing brand, Abu Dhabi National Oil Company (ADNOC) is the first UAE brand to achieve a brand valuation of more than $10 billion.
Haigh added: “The Middle East, and in particular the Gulf region, is home to more and more world class brands, as we have observed these powerhouses making their way up our rankings since Brand Finance undertook its first Global 500 study back in 2007.
"The leadership of these brands are to be commended, especially since both ADNOC and Saudi Aramco’s CEOs are new entrants to our Brand Guardianship Index study of the world’s top 100 CEOs. Etisalat’s role as the official Telecommunication and Digital Services Partner to the upcoming Expo2020 in the UAE is to be commended alongside its recent rollout of the fastest and most robust 5G network in the region.”For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.